BMI View: Turkey will remain committed to its renewable energy expansion plansin order toreducefuel import costs at a time when power consumption in the country is set to surge and the lira continues to depreciate. Wind will drive the renewables expansion;but we highlight that the upsides are mounting for growth in solar capacity.

Despite the dominance of thermal generated electricity, Turkey's renewables sector presents significant growth potential across most technologies, including wind, geothermal and solar power. Turkey has made impressive progress with its renewable energy expansion over the last decade, and across both Western Europe and Central and Eastern Europe (CEE), we see Turkey emerging as a key market; with strong project pipelines, robust growth potential and relatively attractive investment climate for developers.

Key Trends And Developments

Zorlu Enerji's wholly-owned subsidiary Zorlu Dogal Elektrik Uretimi received the preliminary licence for the 100MW Kizildere III JES geothermal project in Denizli in December 2014. The license was awarded by the Turkish energy market regulator.

Chinese solar modules manufacturer China Sunergy (CSUN) signed a memorandum of understanding (MoU) with Turkish financial leasing company Deniz Finansal Kiralama to fund solar projects in Turkey in November 2014. According to the terms of the MoU, DenizLeasing will facilitate and provide capital leasing for up to 100MW of PV projects, deploying CSUN's solar modules and other components.

In January 2015, Turkey's Energy and Natural Resources Minister Taner Yildiz stated that exploiting renewable resources remains a priority for the government and the country had saved USD850mn in energy imports over 2014 as a direct result of the expanding renewables industry.

The World Bank announced in July 2014 that it has provided the Turkish grid operator with a USD350mn loan to help integrate wind projects into the national grid system.

The Turkey Renewables Report researched at source contains Business Monitor International (BMI)'s assessment of the current renewables market in Turkey. The report also contains historical data together with forecasts to end-2018 covering electricity generation (TWh) and electricity capacity (MW).

The renewables sectors covered in the report include Wind, Solar, Geothermal, Tidal and Wave, and Biomass (See Table of Contents for exact coverage). The report also features details on government green energy agendas and funding opportunities, as well as presenting a detailed list of key renewables projects currently being planned or undertaken in Turkey, their capacity, the timeframe of construction and their current status.

The report discusses the various energy policies currently in force, including targets, subsidies and the relevant infrastructure developments or limitations which might impact on renewables growth, analysing the potential effects of regulatory changes in conjunction with the background macroeconomic outlook. Finally, there is a general overview of the competitive landscape in Turkey, together with a detailed summary of the main utilities and manufacturers present and their business operations.

Key Benefits

Benchmark BMI's independent renewables industry forecasts for Turkey to test other views - a key input for successful budgeting and planning in the renewables market.

Target business opportunities and risks in the Turkey renewables sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in the country.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering the renewables market in Turkey, regulatory changes, major investments and projects and significant multinational and national company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the renewables sector and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series (2010-2012) and forecasts to end-2018 for electricity generation (TWh) and electricity generating capacity (MW) for each individual renewables sector present in the country.

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